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Get your taxes done using TurboTax
The information reported on Schedule K-1 Box 20 Code AJ will be used only if your net losses from all businesses are more than $289,000 ($578,000 if filing a joint return).
If that applies to you and you need to enter this manually, you will need to use Forms Mode (available only in the desktop versions of TurboTax). You may also need to manually complete the related Form 461.
See also:
- IRS Instructions for Form 1065 Schedule K-1 Box 20 Code AJ
- IRS Instructions for Form 461 - Limitations on Business Losses
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‎February 25, 2024
12:27 PM